You’re thought process is good, BUT, if your market timing is incorrect, or the specific property you purchase lacks tenant demand, you can get stuck with an “alligator” for a long time.  

I’d recommend starting with resources like Short-Term Rental, Long-Term Wealth by Avery Carl and real estate podcasts like BiggerPockets, connecting with investors in vacation rental groups, and researching reliable management companies in your target areas to make the process as hands-off as possible.

Though, this process will be the same for the other state (if you created a CA LLC you may need to register it as a foreign LLC in the state in which you are doing business/holding property).

And how they do their mortgages.. pretty straight forward very simple process.

The tenant suddenly stopped paying rent, claimed 'banking glitch' and squatted for 6 months while we worked through the evictions process.

This process is extensive, requiring community engagement and approval from the City Planning Commission and City Council.Given the predominance of multifamily residential properties in your area, there may be a precedent for such developments.

Hi, I am in the process of purchasing a 4 unit property in Columbus Ohio and just received a quote from a brokerage company for $400/mo.

Our process,1. 4 months renewal notice. 4 months to find a new tenant. 2.

Naturally your old property must sell before you can take title to the new one, but it gives you a much better head start on the negotiation process of your replacement property.

some credit unions but you'll most likely just have to go through a cashout refinance process